AUD/JPY may rise 50 - 73 pips

Our pivot point is at 104.00.

Our preference

Rebound towards 105.04.

Alternative scenario

Below 104, expect 103.61 and 103.38.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (104.27) but below its 50 period moving average (104.56).

Supports and resistances

105.50 **

105.27 *

105.04 **

104.81

104.31 last

104.15

104.00 **

103.61 *

103.38 **

Number of asterisks represents the strength of support and resistance levels.